George Soros invests in Manchester United football club

Billionaire George Soros has bought a stake in Manchester United football club

Billionaire George Soros has bought a stake in Manchester United football club, a US regulatory filing showed.

George Soros’ investment fund bought about 3.1 million Class A shares in the club, according to the Securities and Exchange Commission.

Class A shares carry one vote each, compared with 10 votes for every Class B share.

The club floated on the US stock market earlier this month.

Billionaire George Soros has bought a stake in Manchester United football club

While the figure was less than originally hoped, the flotation valued the club at more than $2.3 billion, making it one of the biggest sports clubs in the world.

Manchester United has been controlled since 2005 by the Glazer family, the billionaire US sports investors who also own the Tampa Bay Buccaneers American football franchise.

About half of the $233 million that the club raised from its flotation will go to paying off the club’s debts, with the rest going to the Glazers.

Manchester United’s shares on Monday closed down 2.7% at $13.06, after hitting a fresh low of $12.91 earlier in the day.

Clyde K. Valle

Clyde is a business graduate interested in writing about latest news in politics and business. He enjoys writing and is about to publish his first book. He’s a pet lover and likes to spend time with family. When the time allows he likes to go fishing waiting for the muse to come.